February 8 Premarket Comments – Analysts Are A Joke

The premarket comments from 2/8 are down below.

Social media, websites, financial media, pundits, analysts, the whole thing is a joke. These people, 99% of them, are totally clueless – totally. All week we’ve heard the 100% crap about the crashing stock market, the bubbles, the government “shutdown”, the tax “reform”, you name and that was the “reason” for the “crash”. And all week I have stepped up every single morning and calmy and professionally said that the stock market is a bull market, the trend is up, the big reactions are buying opportunities, don’t listen to all of the hot air, just do your work and believe in it. So while the rest of the world was focused on total garbage, I have laid out the scenario very well. And what a beautiful stock market it is. I am very stubborn about the trend, gold (accumulation, yes the trend), or the uptrend in the stock market – it continues to amaze me how out on an island I am with my views.

From August 2014:

For 5 plus years, the geniuses who have claimed that the stock market is about to crash — they are now getting more frantic and strident. There is almost a 0% chance of a crash anytime soon. Since 2009, my friends at ____ have called me every nasty name, as I repeatedly stated that the March 2009 low in stocks is a generational low and stocks are going massively higher. The Dow is eventually headed to 100K, but with several huge selloffs along the way.

Gold currently is in the accumulation phase. Accumulation is simply a market going from weak hands to very strong hands. A market under accumulation resembles a filled beach ball. You can push it down, but it pops right back up, because the demand is overpowering the supply. So, listen to Andrew and accumulate gold into weakness only.
Gold will continue to trade in this range, but around this time next year gold will do a major catch up to the outperformance of the Dow. Continued patience and please ignore the perpetual doomsayers.”


So if you want to continue to go to all the clownish websites, and you feel the need to get their take on “what is going on with the markets” enjoy it. You’ll never succeed at this – never.


From 2/8 with an excerpt from 2/5:


New post here – textbook setup, can and should be used via all time-frames.

Amid the sea of red on Tuesday morning 2/6, and the world filled with the idiotic commentary about the crashing stock market, here is what I believed (plus 2/5) –

In the meantime, I do not remotely believe the bull market in stocks is over, not even close, but I do believe volatilty is here to stay, and I do believe in opportunities being more available going forward.  And I do not believe in the very amateurish gold permabull theory that the “crashing stock market” will cause gold to soar….

As to stocks, for the last few days I have not given symbols. Since starting this website, I have given this advice at times – don’t “press it”. But I’m looking thru some of the wreckage, strong stocks which haven’t “broken down” like ABBV or IMMU (long), or former strong stocks which have broken down like OSTK (long), or stocks in accumulation like IOVA , or stocks which have recently broken out like INTC. I have given out numerous stocks which fit these categories.

I talked about this idea yesterday – “Turn Around Tuesday”  – an old Wall Street saying.

From 2/5:

It is the low rates, especially the last few years, which has smothered volatilty. That is history….Mondays after a big Friday selloff can often be a turn around day. And the retest on Tuesday.”



I believe stocks are in a major bull market, nothing changed there. The stock market will continue to be volatile. I believe this whole area, is reaccum, meaning what – more new lows ahead, and “not at all easy – not at all”.

I only listen to my work. When it is (I am) wrong, I fix it. Everyone else, everything else, to me is sentiment. Nothing more. Please understand how important it is to spend the struggle to hone your work, and then trust it. This business is purely about probabilities, working hard, believing in it, implementing it, entering, exiting. Period. I am very stubborn, too stubborn at times, about my belief in the trend. But again – probabilities.

For those of you who watched the (disappointingly unpopular) point and figure chart video for bonds, my price targets were given in it. We’re very slowly getting there. Bonds selling off again, on 2/5, in the intraday comments, I discussed why I believe the rally in TLT that day was an upthrust. The 30 year chart is below, those curves have been drawn in for a long-time, not a rear view mirror. I used them to buy March 125 TLT puts (still long).

I drew up that gold chart (below), late at night (my time). Gold itself should be bottoming by Monday (miners not so sure, probably later). Gold did have that one more push lower discussed on the chart. It has reached most of my downside view. That 1300-1305 is still bothering me as a spring potential. I had a scratch GLD call trade yesterday. Today, took a small position in NUGT in premarket.


Watching –

The, very slow at times, integration of blockchain/cryptos into “everyday life” continues – NXTD news. So so many people in the late 90s-March 2000+ “missed the forest from the trees” with the internet. The cryptos are the real-time expression of that perspective, and overall massive bull market. But certainly, we need to understand the trading perspective of that situation also. And many stocks and cryptos will not survive, just like 20 years ago. But who’s the next AMZN.

My bullish view of GRUB has been discussed numerous times. I sold my position a few weeks ago, but this thing has been a beauty. With the accum area, and follow the arrows – the reaccum, the reaccum right into the break out zone, the big volume on the breakout, and the reaccum after the breakout. Beauty, like INTC.

Watch how the strongest stocks are showing their strength into the selling in the indexes – I still really like MZOR (long), LOXO, GBT, NVDA, ADVM, IOVA, ATRA, ABBV, GLYC, ARRY, IMMU (long). All of these discussed numerous times, you should be well-acquainted with all of them. Accum, uptrends, and buying into reactions only. TWTR, SNAP accum, uptrends, reaccum. Keep this thing simple.

DRYS, discussed yesterday, sold a big chunk of it, feel better to be able to reaccum more shares down the line. The news is very interesting, basically reversing years of reverse splits. DRYS pulling up the other shippers (for now).

Short-term, starting to watch CNIT more closely. Also – INFN. And IMGN into reactions.





About traderscott 1110 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.